Maersk to Sell 15 crude oil tankers to Euronav

By Finance
Euronav, Belgian shipping company announced its plans to to buy 15 large crude carrier vessels from the biggest shipping company, Maersk for the amount of $980 million.

On Sunday, the Belgian shipping company, said about their plans to raise $350 million in a capital increase to pay for the crude oil tankers.

The spokesperson of the shipping company Euronav, revealed that $235 million  of the acquisition bill are going to be paid in mezzanine financing and $500 million are going to be paid with a debt facility.

Moreover, the spokesperson announced that Euronav will issue shares to raise $50 million around 10th of January. In addition, shareholders of Euronav will be requested to approve a further $300 million issued shares.

The Euronav's spokesperson revealed the financial institutions that would subscribe to the capital increases: Glendon Capital Management, BHR Capital, Solus Alternative Asset Management, GoldenTree Asset Management and York Capital Managemenet.